A Study on Employee Retention Strategies at Genco Synergy

A Study on Employee Retention Strategies at Genco Synergy

HEMALATHA K.,BCOM.,

MBA(Human Resource & Operations) Student.,Reg No:43410296

School of Management Studies,

Sathyabama Institute of Science and Technology,Chennai,Tamil Nadu, India.

DR.K.SASIREKHA B.Sc.,B.E.d.,MBA.,PhD

Assistant professor,

School of Management Studies,

Sathyabama Institute of Science and Technology,Chennai,Tamil Nadu, India.

ABSTRACT

Employee retention has become one of the most challenging concerns in today's competitive business environment. Employees are considered the most valuable assets of any organization, as their skills, knowledge, and dedication significantly contribute to the company's growth and success. This study focuses on Employee Retention Strategies, highlighting the importance of retaining skillful, committed, and high-performing employees to ensure organizational stability and productivity. The ability of an organization to retain its key employees directly impacts on its overall performance, reputation, and long-term sustainability.

The primary objective of this study is to understand the significance of employee retention in the modern corporate world and to identify the key factors that influence employee turnover. The study further aims to explore the reasons behind employee exits and provide strategic recommendations to enhance employee retention. Research findings suggest that most employees leave their jobs due to lack of job satisfaction, friction with superiors, limited career growth opportunities, inadequate salary packages, and lack of motivation. Persistent dissatisfaction with the work environment, combined with limited learning and development opportunities, compels employees to seek better career prospects elsewhere.